Know the Value Of Your Tacoma Mobile Home For A Fast Sale
If you are thinking about selling a mobile home in Tacoma, you will need to determine the value. Learn how to determine what your Tacoma mobile or manufactured home really worth in our latest blog post!
Estimating the value for a mobile or manufactured home is a little different than determining the value of a regular single-family house. By using the information below, even someone not familiar with real estate will be able to come up with an approximate value.
Inspect Both The Outside And The Inside of the Home
It’s important to learn as much as you can about the mobile home that you are selling. There are likely repairs needed that you hadn’t previously been aware of, but will notice with a thorough inspection. The best way to stay organized is to make yourself a checklist and carefully inspect every square inch of the property. On the inside, take a good look at the electrical system and make sure everything is in working order. Test it out by turning on all the switches to confirm outlets and appliances are in working order. Check the walls to ensure stability as well as any damage from water getting in. Do the same with the roof, keeping an eye out for water staining on the ceiling and walls. Mobile homes have very thin trusses and a leaking roof is very detrimental to the health of the roof. Check the flooring to make sure there are no holes or soft spots. This a typical problem mobile owners face that single-family owners typically wouldn’t need to worry about. This is because a lot of mobile home subfloors are made of pressboard that damage easily when exposed to water. Check out the plumbing to ensure all faucets work properly and that there aren’t any leaks.
Outside, you’ll want to look for any visible signs of damage to the siding and roof. Make sure there are no dents or places water can get in and that there are no soft spots or missing shingles up on the roof. You’ll want to also take a good look underneath to make sure there is no damage or pests living under the home. Look for any loose wiring or insulation, and repair as needed.
Research Recent Sales
Take a look at what other mobile homes in the area are actually selling for. Don’t take into account the ones that are listed, focus on the ones that have actually sold recently. The mobile homes need to be comparable in year build, size, and condition. Specifically look at mobile homes within .5 miles if you are in the city, within 1 mile if you are in the suburbs, and within 5 miles if you are in a more rural area. You can also take a look at what the county property assessor has valued your home at. While their numbers can oftentimes be lower than market value, it can give you a good jumping-off point.
Consider The Neighborhood
Yes, mobile homes are mobile, but you should consider where they are currently located, especially if you own the land the mobile home is currently on. When determining the value for your mobile home, factor in local school ratings, crime statistics, accessibility, and businesses and other amenities in the immediate area. A mobile home in a nice area will sell for more than the same mobile home in a not so great area.
Consult The NADA Manufactured Housing Appraisal Guide
The National Automobile Dealers Association creates a pricing guide for manufactured homes. This is like the Kelley Blue Book of mobile homes. You can either check with your local library for a copy of the physical book, or you can request a report online. To get a report online, there is a fee, but it will greatly help you if you are unsure of the value of a mobile home. There are multiple reports available at different price points, so you can be sure you are only paying for the information that is important to you. This report will not take into account the value of your land only the structure. The land your mobile home is sitting on can sometimes even be worth more than the mobile home that sits on it. Be sure to do your own research as well, without solely relying on the report… especially if you own the land underneath it.
Hire A Pro
If you choose to hire a professional appraiser for your Tacoma, WA mobile home, make sure they are well experienced. Appraising a mobile home can be very different than appraising a single-family home, so you will need to make sure they know what they are looking for. Just like any other real estate, your appraiser needs to be accredited. Once they have looked over your property, be sure to review the report independently to ensure nothing was missed!
At Kind House Buyers, we can help you determine the value of your mobile home and make you an offer to buy it. While the price may not always be retail, you will save on repairs, marketing, agent fees, commissions and other costs you will incur when listing.